AMAALA Yacht Club Opens, Putting the Red Sea on the Global Yachting Map

RIYADH, Saudi Arabia--(BUSINESS WIRE)--Sep 14, 2026--

Red Sea Global (RSG), the regenerative tourism developer, has announced that AMAALA Yacht Club has officially begun operations, marking a major milestone in establishing the Saudi Red Sea as a new global destination for luxury yachting, sailing and marine tourism.

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Nestled within AMAALA Marina Village, the AMAALA Yacht Club is now welcoming founding members and visiting yachts to moor and explore the destination.

Located approximately 2,000 nautical miles from Monaco, the club provides a new winter destination for the world’s luxury sailing community, which traditionally migrates from the Mediterranean to the Caribbean or Indian Ocean from October. Positioned closer to the Mediterranean than the Caribbean, AMAALA offers an attractive winter cruising hub and a strategic gateway to the Indian Ocean.

“The AMAALA Yacht Club marks the emergence of a truly global yachting destination, offering unparalleled access to the stunning Saudi Red Sea coast. More than a world-class facility, it brings together luxury, wellness, and regenerative tourism in a way that is unique anywhere in the world,” said John Pagano, Group CEO of Red Sea Global.

AMAALA Marina features 119 berths, can accommodate superyachts of more than 100 meters and offers a comprehensive marine services, including fueling with maintenance and repair facilities in the coming years. The 7,900-square-meter AMAALA Yacht Club serves as a premier hub for the destination’s maritime community, offering world-class facilities, services and experiences for residents and visiting yacht owners alike. Berthing and mooring fees are comparable to leading European yachting destinations while yacht owners securing permanent moorings benefit from a range of exclusive privileges through selected resort partners.

Within AMAALA Yacht Club, members and guests can enjoy a selection of dining and social spaces, including AMAALA Lounge, ANQA, 27°C and The Deck, alongside a rooftop pool, private meeting suites and dedicated areas for social gatherings and events.

The AYC Academy will also offer sailing programs and watersports experiences, supporting participation at every level and across all age groups.

The club plays a key role in advancing Saudi Arabia’s presence on the global sailing stage. This includes being a centerpiece of the Grand Finale of The Ocean Race 2027, one of the world’s most prestigious sailing competitions. It will also host a series of international yachting events throughout the year.

The club’s members and guests will enjoy access to newly opened luxury resorts in AMAALA such as Four Seasons, Six Senses, Rosewood, Equinox, and Nammos with two additional resorts opening in the coming months. Visitors can revel in the elaborate wellness offerings, elite water sports, cultural programming, art installations and vibrant social spaces, creating a distinctive destination that reimagines the yachting lifestyle. With average temperatures of 26°C throughout the season and average lows of 23°C, AMAALA Offers a comfortable year-round cruising environment for yacht owners, guests and crew. Located just 45 minutes from Alwajh International Airport, the destination also provides convenient access and connectivity for international visitors.

Designed by HKS Architects, the yacht club draws inspiration from the sculpted rock formations of the Red Sea coastline, expressed through its cantilevered terraces, maritime heritage and traditional Arabian architectural forms. The landmark facility is designed to serve as long-term gathering place for the international sailing and yachting community.

Like the wider destination, AMAALA Yacht Club is powered entirely by renewable energy, reflecting Red Sea Global's commitment to responsible development and regenerative tourism.

About Red Sea Global

Red Sea Global (RSG) is a vertically integrated real estate developer with a diverse portfolio across tourism, residential, experiences, infrastructure, transport, healthcare, and services. This includes the luxury regenerative tourism destinations The Red Sea, which began welcoming guests in 2023, and AMAALA, which welcomed its first guests in 2026.

A third destination, Thuwal Private Retreat, opened in 2024. RSG was also entrusted with development works at AlWajh International Airport, focused on upgrading the terminal and infrastructure.

RSG is a PIF company and a cornerstone of Saudi Arabia’s ambition to diversify its economy. Across its growing portfolio of destinations, subsidiaries, and businesses, RSG seeks to lead the world toward a more sustainable future, showing how responsible development can uplift communities, drive economies, and enhance the environment.

About AMAALA Yacht Club

AMAALA Yacht Club is a new international hub for luxury yachting within AMAALA, the ultra-luxury wellness destination in the protected Prince Mohammed bin Salman Royal Reserve. Combining world-class marina infrastructure, contemporary design and exceptional hospitality, AMAALA Yacht Club serves as a gateway to the Red Sea, one of the world's most unexplored cruising grounds.

The 119-berth marina accommodates superyachts of more than 100 metres and offers a full international port of entry. Situated approximately 200 nautical miles south of the Suez Canal, the yacht club is ideally positioned for vessels looking to explore waters beyond the Mediterranean and Caribbean, while also providing an attractive winter base for both private and charter yachts.

Designed by internationally renowned architects HKS, the 7,900-square-metre clubhouse brings together elegant dining venues, private lounges, a pool deck and year-round programme of sailing and social events. AMAALA Yacht Club is also home to the AYC Academy, which delivers sailing programs for all ages and abilities, helping to inspire the next generation of sailors and establish the Red Sea as an emerging centre for sailing excellence.

AMAALA Yacht Club will host major international sailing events, including The Ocean Race in 2027, cementing its position as a new global hub for yachting and sailing in the Red Sea.

A yacht moored at AMAALA Yacht Club on Saudi Arabia’s Red Sea coast.

Aerial view of AMAALA Yacht Club at AMAALA Marina Village.

AMAALA Yacht Club, the new luxury yachting destination on Saudi Arabia’s Red Sea coast.

NEW YORK (AP) — Artificial-intelligence stocks are sliding worldwide Monday after leaders of the industry warned a slowdown is needed for the safety of humanity. Another jump in oil prices, meanwhile, briefly sent the bond market to its latest pressure-raising milestone as the yield on the 10-year Treasury touched 5% for the first time since 2023.

Despite all the downers for Wall Street, gains for many stocks outside AI helped limit the market's losses. So did a midday tempering of oil prices, and the S&P 500 fell a relatively modest 0.3% as more stocks rose within the index than fell.

The Dow Jones Industrial Average was down 74 points, or 0.1%, as of noon Eastern time, and the Nasdaq composite was 0.4% lower after clawing back most of an early loss of 1.3%.

AI stocks have been under pressure a while because of worries their prices shot too high in the frenzy around the technology. The concerns jumped to another level over the weekend after one of the industry’s leading voices, Anthropic CEO Dario Amodei, called for a deliberate and global slowdown in the development of AI.

He cited safety issues, including the risk that AI becomes capable of leading a swarm of agents that could take over the entire internet within six to 12 months.

Nvidia, whose profits have soared because its chips are helping to train AI models, sank 2.8% and was the heaviest weight on the market because of its massive size.

SpaceX, which gets a chunk of its business from AI, slipped 0.1% after Elon Musk said over the weekend that he agrees with Amodei. Softbank Group, the Japanese giant that is a major investor of OpenAI, lost 10.7% in Tokyo after OpenAI’s Sam Altman likewise supported the concept of a slowdown.

Altman also said in an interview with Fortune published Saturday that OpenAI would likely wait until next year for a sale of its stock on Wall Street, potentially delaying a gusher of cash for Softbank and other early investors in OpenAI.

In South Korea, the Kospi index dropped 3.3% due to losses for its two most influential stocks, Samsung Electronics and SK Hynix.

President Donald Trump played down the need for his administration to check the development of AI, saying he worried about ceding his country's edge over China in a global competition and that winning would help address the risks from the advancing technology.

Even with so many voices inside and outside the AI industry calling for a slowdown to protect humanity, Trump said on his social media network Monday that the only guardrail it needs “is a STRONG AND SMART (High IQ!) PRESIDENT, and the U.S.A. has that, in spades!”

Helping to limit Wall Street's losses on Monday were several software companies that tumbled earlier on worries AI-powered competitors would undercut their businesses.

Intuit, the company behind TurboTax and QuickBooks, rose 5.1%. Autodesk, whose software helps designers, climbed 7.2%, and Adobe added 4.2%.

Oil prices, meanwhile, continued to climb as fighting in the Middle East keeps squeezing the global flow of oil. The price for a barrel of Brent crude rose 2.7% to $107.46 after getting near $110 in the morning.

An important Saudi oil pipeline will mostly be out of service for weeks following an attack last week, two regional officials told The Associated Press. The pipeline offered a way for Saudi Arabia to shift exports to the Red Sea and avoid the Persian Gulf’s Strait of Hormuz, where Iranian attacks have stifled the movement of oil tankers.

Brent has jumped from less than $72 in early July as doubts rise that the United States and Iran can come to an agreement that would allow oil tankers to freely exit the Persian Gulf through the strait again.

While the prospect of a de-escalation of war in Iran may have dimmed, ING commodities strategists Warren Patterson and Ewa Manthey wrote in a commentary on Monday that the situation is still fluid and “sizable” volumes of oil have still been moving through the strait.

So far, the jump in oil prices has sent the average cost of a gallon of regular gasoline across the country to nearly $4.32 from $4.08 a month ago and $3.18 a year ago, according to AAA.

Such upward pressure on inflation has much of Wall Street expecting the Federal Reserve will hike its main interest rate on Wednesday at the end of its next meeting.

That’s the traditional way the Fed tries to rein in high inflation. Such a move then filters out through the rest of the bond market, slows the overall economy and undercuts prices for investments. That hopefully would remove some of inflation’s fuel, though Trump has been lobbying for lower interest rates instead of higher.

Besides high inflation, worries about rising debt for the U.S. and other governments and other concerns have sent longer-term Treasury yields to their highest levels in years.

The yield on the 10-year Treasury breached the 5.00% level during the morning for the first time in nearly three years. That's up from 4.96% late Friday and just 3.97% before the war with Iran began in February.

But the 10-year yield later pulled back to 4.95% as oil prices came off their highs for the day.

The 10-year yield has not consistently remained above 5% since the turn of the millennium, and its jump has already made it more expensive for U.S. households and companies to borrow. That includes the highest average long-term mortgage rate in more than 14 months.

AP Business Writers Chan Ho-him and Michelle Chapman contributed to this report.

FILE - A general view shows the New York Stock Exchange, Friday, Aug. 7, 2026, in New York. (AP Photo/Yuki Iwamura, File)

A monitor shows the Nikkei 225 stock index in Tokyo Monday, Sept. 14, 2026. (Miyuki Saito/Kyodo News via AP)